Listed by Sands Investment Group Austin, Sands Investment Group
$1,700,000
Applebee's - Kendallville, IN (4% Buyside Commission)
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 4,755
Cap Rate 7.2%
NOI $122,412
Occupancy 100%
Tenancy Single
Brand/Tenant Applebee's
Lease Type NNN
Lease Term 25
Lease Expiration 09/30/2029
Remaining Term 3
Rent Bumps Yes
Lease Options 2 x 5 Year Options
Price per SqFt $358
Year Built 2000
Acreage 1.420
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 09/24/2004
Ground Lease No
7.20% CAP NNN Applebee’s | Healthy Rent to Sales | 4% Buyside Commission
Marketing description
Sands Investment Group is pleased to exclusively offer for sale a 4,755 SF Applebee’s located at 602 Fairview Boulevard in Kendallville, Indiana. The property is leased on a Triple Net (NNN) basis with 3+ years remaining, requiring zero landlord responsibilities. The lease includes annual rent increases, providing investors with a strong hedge against inflation and a secured, income-producing investment opportunity.
Investment highlights
- 3+ years remaining on a Triple Net (NNN) Lease with zero landlord responsibilities.
- Annual rent increases provide a healthy hedge against inflation.
- Strong guarantee from RMH Franchise Holdings, currently operating over 130 restaurants across 14 states.
- Applebee's is one of the world's largest casual dining brands, with over 1,512 locations in 16 countries.
- Located off of E North Street, which sees over 16,684 VPD.
- Kendallville, IN, is 25 miles north of Fort Wayne, IN (population of over 270,000 people).
- Apple Sun, an affiliate of Sun Holdings, Inc., acquired RMH Franchise in 2021. Sun Holdings, Inc. is the third-largest restaurant franchisee in the country, with over 1,800 locations nationwide.
- Nearby national retailers include: Walmart, Rural King, Taco Bell, Dollar General, Burger King, Speedway, Tractor Supply Co., Advance Auto Parts, O'Reilly Auto Parts, and more.
Listing Contacts
Listed by Sands Investment Group Austin, Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$122,412.00
$10,201.00/mo
Valuation Metrics
0
DSCR
7.2%
Cap Rate
7.2%
ROI
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